Mera Samvidhaan All of Income-tax Act, 2025

Chapter V · Income of Other Persons Included in Total Income of Assessee

98"Transfer" and "revocable transfer" defined.

Section 98 · Chapter V · page 132 of the Act

For the purposes of sections 96 and 97, and this section,—

(a) "transfer" includes any settlement, trust, covenant, agreement or arrangement;

(b) a transfer shall be deemed to be revocable, if—

(i) it contains any provision for the direct or indirect re-transfer of the whole or any part of the income or assets to the transferor; or

(ii) it, in any way, gives the transferor a right to re-assume power directly or indirectly over the whole or any part of the income or assets.

Section 98 of The Income-tax Act, 2025 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.